The latest FCA review of firm’s consumer duty implementation process has highlighted key concerns across a well-used regulatory tool that of proof of value (POV). Given that evidencing fair value across the Duty’s second outcome is highly subjective this was always going to be a big challenge for adviser firms.
The FCA's 2023/2024 business plan outlines three key priorities: protecting consumers, ensuring market integrity, and promoting competition. Let's take a closer look at each of these priorities.
Artificial Intelligence (AI) has come a long way in the past few decades. Today, AI is capable of performing a wide range of tasks, from recognizing objects in images and translating languages to playing games and driving cars. However, one of the most exciting and rapidly developing areas of AI is generative AI, which aims to create new content, rather than simply analysing or recognising existing content.